Stamp Duty Land Tax

As of 1 April 2016, Stamp Duty Land Tax rules changed for those buying additional residences. Announced in the Chancellor of the Exchequer’s Autumn Statement, a 3% increase has been added to existing SDLT rates.

These changes affect those buying properties in England and Wales that are in addition to the purchaser’s main residence. The costs are still incurred if you already own property outside of the UK.

Stamp Duty is charged on a tiered system, with the amount owed dependent on the purchase price of the property. The additional 3% surcharge is added on top of the existing rates.

For example, purchasing a main residence for £500,000 will incur the following rates of Stamp Duty: 0% on the first £125,000, 2% on the amount between £125,000 and £250,000, and 5% on the amount above £250,000. If this purchase was in addition to the buyer’s main residence, these rates would increase to 3%, 5% and 8% respectively.

In house team London Property Market

As the marketing and communications team at Kinleigh Folkard & Hayward's head office, our aim is to keep you updated and informed where the London property market is concerned. In addition, we'll bring you tips on navigating current issues and trends in the market when buying, selling, letting and renting to ensure that whatever field you're interested in, you'll be completely informed.

We want to highly recommend the team at KFH West Hampstead if you are selling or buying. They were a really professional team and excellent at being proactive with all the parties in the transaction including solicitors, other estate agents in the chain and our buyers.

Katherine W - Seller

I am very happy with you and look forward to working with you on future purchases. You will also be getting a few referrals your way, that’s for sure.

Farid D - Buyer

We have bought a few properties now and would say that as an agent you genuinely excelled. You are the best we’ve dealt with. We were extremely impressed with your approach and you made us feel very much looked after.

Woody B - Buyer

I found you to be extremely diligent, pleasant and helpful to deal with. I found your work ethic to be exemplary, from understanding customer needs to orchestrating this complex transaction so well that we could exchange in six weeks.

Vinay D - Buyer

We’ve had a rollercoaster ride but in the last year you’ve managed to sell our house and sell us two great flats we’re really happy with. You have the ability to ensure trust in old cynics like me and that’s a great asset to your business.

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